News: Brokerage

CBRE arranges two new office leases at The Gateway Building

White Plains, NY CBRE has completed two new office leases at The Gateway Building, a Class A office tower located at 1 North Lexington Ave. in the Central Business District and just steps from the White Plains Metro-North Train Station. International law firm Greenberg Traurig inked a 19,852 s/f lease while the Sabra Dipping Company, a U.S.-based maker of refrigerated dips and spreads co-owned by PepsiCo and the Strauss Group, committed to 6,655 s/f within the 19-story building.  

The CBRE team of William Cuddy, Jr. and Jacqueline Novotny led leasing at The Gateway Building and represented the owner, Gateway I Group, Inc., in the lease negotiations. Greenberg Traurig was represented by Greg Frisoli and Mike Shuler, both executive managing directors at Newmark. Sabra was represented by Ben Brenner and Ethan Silverstein at Cushman & Wakefield.

“Both tenants were looking to relocate to downtown’s premium office setting in a building close to regional transportation options,” said Cuddy. “The Gateway Building fit their real estate requirements perfectly given the property’s high walkability score and access to the Metro North train station into NYC just one block away.”

Previously located at 777 Westchester Ave., Sabra will occupy part of the 12th floor of the 530,519 s/f office property. Greenberg Traurig will relocate its offices from 445 Hamilton Ave. to the eighth floor. 

The Gateway Building is a LEED Silver, Wired and Well Certified office tower.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,